This Video Perfectly Captures Why Universal Basic Income Will Change The World

Goodbye, welfare system!

SCIENCE AF STAFF

11 DEC 2017

In countries around the world, the idea of a government providing a guaranteed income to its citizens is gaining traction. This concept is called a Universal Basic Income (UBI), and according to this simple and informative video, it is "nothing less than the most ambitious social policy of our times."

But for all that, policymakers are still struggling to figure out what a UBI really is or should be.

So what does the research say?

Well - the results are mixed. Far from being a drain on the economy, research indicates a UBI could be socially and economically beneficial.

For example, a study from the Roosevelt Institute suggests a government handout of $12,000 to each American every year would boost the U.S. economy by 12.5 to 13 percent over eight years. Plus, the report also concludes a UBI would create more jobs in the U.S.

The problem is, there are not enough studies, and the studies that do exist have no real-world examples to draw on. As a result, critics argue the hypotheticals and models these studies employ are based on too many assumptions, and not enough facts.

Still confused? This animated video lays out all the major arguments for and against the progressive idea - and it perfectly captures why the UBI will change the world.